Home / Poker News February 2013 / The Poker Grapevine – Ferguson Looking to Settle with DoJ
The Poker Grapevine – Ferguson Looking to Settle with DoJ
Posted by: James Carter. - Wed, 2013-02-20 06:19
Ex Full Tilt Poker pro Chris Ferguson has apparently taken his first step towards reconciliation with the US authorities. After several of his fellow
Full Tilt Poker executives have reached settlement deals with the Department of Justice, according to a source inside the DoJ, Ferguson himself has submitted his settlement request the other day.
The documents have been made available to the public, and they lay out a pretty clear picture of what Ferguson is hoping to achieve through the settlement. Like his peers before him, Ferguson will have to forfeit quite a bit of money to the government if he ever hopes to settle. The settlement documents make it clear that he agrees to immediately transfer an unspecified sum of money designated “Ferguson Account Funds” to the authorities. In addition to those funds, he will also forfeit $2,350,000 within a 30 day period. All these monies shall be used by the Department of Justice to repay Full Tilt poker's US-based players who still haven't received any compensation after the company's acquisition by
PokerStars.
In addition to the above said monetary forfeitures, Ferguson will also give up any and all stakes he may hold in the company in dividends, therefore giving up all future claims in regards to the revenues generated by the site.
Other obligations that he assumes through the settlement include not working for an unlicensed online gaming company in the US ever again.
Of course, the bottom line of it all is that he admits no guilt, culpability or liability in the Full Tilt Poker fiasco, thus getting himself off the hook for good.
According to the sources cited above, Feguson expects his settlement to gain approval of the court soon.
